ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Thursday, October 31, 1996 TAG: 9610310029
SECTION: BUSINESS PAGE: B5 EDITION: METRO
SOURCE: JEFF STURGEON
Growth slowed in manufacturing, services, home sales, tourism and farming in Virginia and four other Mid-Atlantic states, the Federal Reserve Bank of Richmond said Wednesday.
Retail sales climbed faster, however, according to the bank's "beige book" report, a periodic look at economic trends.
There is plenty of work - even too much, according the report. "Complaints of labor shortages remained widespread, especially for industrial machinery and equipment producers," the report said.
Hurricane Fran and its effects put a dent in tourist travel to the beach. But hotels and restaurants got a lot of business from insurance adjusters, rescue workers and repair crews. The preferred getaway spot appeared to be the mountains. Sales at one unidentified resort hit a record.
The hurricane kept farmers from harvesting some crops and planting others. Those outside the storm's path were doing fine.
Although people weren't buying homes as fast, businesses rented office buildings and other commercial space at a "frantic" pace in South Carolina. Buildings were generally fuller across the region, and rents higher. In some places, the highest caliber office space was completely taken.
LENGTH: Short : 32 lines ILLUSTRATION: GRAPHIC: map of Fifth Federal Reserve Districtby CNB